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California's "Privacy Revolution" - Take Notice or Take the Penalties

September 01, 2003

By Behnam Dayanim and Patrick Togni

California enacted the nation’s toughest financial services privacy law when Governor Gray Davis signed the “California Financial Information Privacy Act” into law on August 27. Years in the works, the Act overwhelmingly passed both chambers of the California legislature after a petition for a statewide ballot referendum on the subject intensified public support for the bill. The California “Privacy Revolution” is here – and its impact will be felt by businesses far beyond California’s borders.